Thursday, January 12, 2017

A LITTLE PENSION REALITY

Probably the most important benefit for police
officers is the pension.

For the decades of difficult, dangerous work of law
enforcement, police expect that their pension will be waiting for them.

And there is perhaps no issue more filled with misinformation
than the funding and politics surrounding this key benefit.

First, members should understand a crucial piece of
legislation that passed during the Angelo administration.

Though a little complicated, it’s essential that
members be aware of it.

On 30 Nov 2016, a bill passed that moved a clause
called the "born before date" to 1 Jan 1966. This means that there
were no increased retroactivity benefits for FOP members from 2010 to
2017.Because of this, officers who retired
after attaining age 55 from 2010 until now have each lost as much as $11,000.00
in pension benefits that they will never makeup.

That’s right, $11,000.

And it’s not just the lost money. This bill sets a
precedent: The Angelo administration the first in the history of the FOP that failed
to garner retroactivity.

Why should FOP members see such a crucial benefit
diminish? Why should we open such a door in negotiations? We do not need FOP
leadership that negotiates away our benefits, especially a benefit as important
as our pension.

Why did Angelo do it? No one knows for certain. But some
point to the possibility that he did it in exchange for a cut of a future
Casino proceeds.

Anyone seen any casinos in Chicago? Anyone seen any
under construction?